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Ecsu Foundation INC FY2023 filing

Tax-deductible

Willimantic, CT501(c)(3)EIN 23-7111053Revenue $2.7M in FY2023

On file with the IRSecsufoundation.comGelsiyoung Room 120, 06226-0000 · Willimantic, CTTax-exempt since Nov 1972Publicly supported — 509(a)(2)

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The Ecsu Foundation, INC. Is dedicated to support of education, research, programs and scholarships at eastern connecticut state university.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $1.3M a year · 46% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $44K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 19 voting members
Looks good: 19 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.7M
+4% vs prior year
Spent
$2.1M
To programs
76%
Net assets
$22.3M
By yearFY2020–FY2025
Revenue
$2.7M
FY2023▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.7M
FY2021$3.6M
FY2022$2.6M
FY2023$2.7M
FY2024$2.2M
FY2025$2.8M
Expenses
$2.1M
FY2023▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$1.3M
FY2022$2.0M
FY2023$2.1M
FY2024$873K
FY2025$967K
Net assets
$22.3M
FY2023▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$19.3M
FY2021$23.0M
FY2022$20.7M
FY2023$22.3M
FY2024$25.0M
FY2025$27.3M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1972.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $1.6M Management & general 18% · $372K Fundraising 6% · $126K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Justin Murphy
President
$0Pt VII · Sec A
Kathleen M Regan-Pyne
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Anne Iezzi
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Wendy Ernst
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Ecsu Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports education, research, programs, and scholarships at Eastern Connecticut State University.

Questions for Ecsu Foundation INC

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Provided by the organization

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1 program · $1.6M · in their own filed words · FY2022
01

Promotion, encouragement and assistance of all forms of education, research and athletics as it relates to eastern connecticut state university.

$1.6Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Connecticut Community Foundation INCFY2025$44K
Total grants receivedfrom 1 funder$44K
Grants paid · 9 grants · $3.2M · 2019–2024
Eastern Connecticut State UniversityFY2024$219,036
Eastern Connecticut State UniversityFY2024$26,300
Eastern Connecticut State UniversityFY2024$5,398
Eastern Connecticut State UniversityFY2023$220,751
Eastern Connecticut State UniversityFY2023$151,425
Eastern Connecticut State UniversityFY2022$669,550
Eastern Connecticut State UniversityFY2021$799,712
Eastern Connecticut State UniversityFY2020$531,166
Eastern Connecticut State UniversityFY2019$529,671

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.7M
Ln 12
Gifts and grantsLn 1h$2.0M
Investment incomeLn 3$703K
Money outPt IX
$2.1M
Ln 25
Programscol B$1.6M
Managementcol C$372K
Fundraisingcol D$126K
Owns and owesPt X
$22.3M
net assets · Ln 32
Cash and savingsLn 1–2$398K
Total assetsLn 16$23.6M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a19
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0M
Noncash giftsLn 1g$88K
Fundraising eventsLn 1c$46K
Investment incomeLn 3$703K
Gains on assetsLn 7$246K
Total revenueLn 12$2.7M
Assets in detailPt X, end of year
CashLn 1$258K
SavingsLn 2$140K
Cash and savings togetherLn 1–2$398K
InvestmentsLn 11–13$19.3M
Land, buildings, equipmentLn 10c$1.8M
Other assetsLn 15$1.8M
Total assetsLn 16$23.6M
LiabilitiesLn 26$1.3M
Net assetsLn 32$22.3M
OperationsPt I, VI
EmployeesI 52
VolunteersI 614
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$291K$398K
InvestmentsLn 11–13$17.1M$19.3M
Land, buildings, equipmentLn 10c$1.8M$1.8M
Total assetsLn 16$21.1M$23.6M
LiabilitiesLn 26$443K$1.3M
Net assetsLn 32$20.7M$22.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.4M$1.4M
Other salaries and wagesLn 7$195K$195K
Other employee benefitsLn 9$1K$1K
Payroll taxesLn 10$16K$16K
Accounting feesLn 11c$23K$23K
Professional fundraising feesLn 11e$12K$12K
Investment management feesLn 11f$93K$93K
Other fees for servicesLn 11g$12K$12K
Office expensesLn 13$5K$5K
OccupancyLn 16$95K$91K$4K
Depreciation, depletion and amortizationLn 22$41K$41K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$162K$48K$114K
All other expensesLn 24e$31K$12K$19K
Total functional expensesLn 25$2.1M$1.6M$372K$126K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.8M$967K$1.8M$27.3M 990 PDF
FY2024 $2.2M$873K$1.4M$25.0M 990 PDF
FY2023 Viewing $2.7M$2.1M$587K$22.3M 990 PDF
FY2022 $2.6M$2.0M$614K$20.7M 990 PDF
FY2021 $3.6M$1.3M$2.3M$23.0M 990 PDF
FY2020 $2.7M$1.7M$1.0M$19.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $2,680,613 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,624,037$2,007,681
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $892,627$703,366
I-11 Other revenuePrior year $67,025−$30,434
I-12 Total revenuePrior year $2,583,689$2,680,613
I-13 Grants and similar amounts paidPrior year $1,407,552$1,403,281
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $91,881$211,664
I-16a Professional fundraising feesPrior year $12,731$12,230
I-17 Other expensesPrior year $457,759$466,121
I-18 Total expensesPrior year $1,969,923$2,093,296
I-19 Revenue less expensesPrior year $613,766$587,317
Part VI · Governance 19 of 19 board members independent, 2 to look at
VI-1a Voting members of the governing body19
VI-1b Independent voting members19
VI-12a Written conflict of interest policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,680,613 across 9 lines filed
Lines not itemized here account for $815 of total revenue; see the IRS return.
VIII-1c Fundraising events$45,846
VIII-1f All other contributions, gifts and grants$1,961,835
VIII-1g Noncash contributions (included above)$87,907
VIII-1h Total contributions, gifts and grants$2,007,681
VIII-3 Investment incomeExcluded from tax $456,999$456,999
VIII-6 Net rental income or lossExcluded from tax −$18,376−$18,376
VIII-7 Net gain or loss on sales of assetsExcluded from tax $246,367$246,367
VIII-8 Net income from fundraising eventsExcluded from tax −$12,873−$12,873
VIII-12 Total revenueRelated to mission $815 · Unrelated business $0 · Excluded from tax $672,117$2,680,613
Part IX · Statement of functional expenses $2,093,296 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $1,403,281$1,403,281
IX-7 Other salaries and wagesManagement $194,555$194,555
IX-9 Other employee benefitsManagement $1,263$1,263
IX-10 Payroll taxesManagement $15,846$15,846
IX-11c Accounting feesManagement $22,928$22,928
IX-11e Professional fundraising feesFundraising $12,230$12,230
IX-11f Investment management feesManagement $93,094$93,094
IX-11g Other fees for servicesManagement $12,100$12,100
IX-13 Office expensesManagement $5,336$5,336
IX-16 OccupancyPrograms $90,888 · Management $4,062$94,950
IX-22 Depreciation, depletion and amortizationPrograms $41,442$41,442
IX-23 InsuranceManagement $3,494$3,494
IX-24 Other expenses (24a–d)Programs $48,070 · Fundraising $113,673$161,743
IX-24e All other expensesPrograms $11,571 · Management $19,463$31,034
IX-25 Total functional expensesPrograms $1,595,252 · Management $372,141 · Fundraising $125,903$2,093,296
Part X · Balance sheet $23,569,294 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $150,556$257,964
X-2 Savings and temporary cash investmentsStart of year $140,024$140,212
X-3 Pledges and grants receivableStart of year $72,169$180,247
X-4 Accounts receivableStart of year $1,650$32,917
X-8 Inventories for sale or useStart of year $14,384$14,384
X-9 Prepaid expenses and deferred chargesStart of year $3,106$3,385
X-10c Land, buildings and equipment, netStart of year $1,809,805$1,794,897
X-11 Publicly traded securitiesStart of year $17,070,131$19,305,863
X-15 Other assetsStart of year $1,839,425$1,839,425
X-16 Total assetsStart of year $21,101,250$23,569,294
X-17 Accounts payable and accrued expensesStart of year $430,476$1,263,123
X-19 Deferred revenueStart of year $12,365$7,510
X-26 Total liabilitiesStart of year $442,841$1,270,633
X-27 Net assets without donor restrictionsStart of year $657,583$1,129,753
X-28 Net assets with donor restrictionsStart of year $20,000,826$21,168,908
X-32 Total net assets or fund balancesStart of year $20,658,409$22,298,661
X-33 Total liabilities and net assetsStart of year $21,101,250$23,569,294
Part XI · Reconciliation of net assets $22,298,661 net assets at year end
XI-1 Total revenue$2,680,613
XI-2 Total expenses$2,093,296
XI-3 Revenue less expenses$587,317
XI-4 Net assets at start of year$20,658,409
XI-5 Net unrealized gains (losses) on investments$1,052,935
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$22,298,661

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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